Alstom: Oddo a buyer, pending 'definitive figures'
(CercleFinance.com) - Yesterday, Alstom published registration document (Document E) regarding the planned merger of its mobility activities with those of Siemens (including rail traction), which has been filed with the AMF on the same day.
Oddo said this morning that (after reading the document), at this stage it essentially notes that the figures are close to what it was expecting, although the exact assets and liabilities to retain in its valuation will continue to fluctuate slightly.
In any case the broker maintains its positive view on the stock and Newco, which is significantly cheaper than listed international railways by offering strong earnings growth.
Pending final figures, Oddo says that it is maintaining its "Buy" rating on the stock, along with its target price of 47 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Oddo said this morning that (after reading the document), at this stage it essentially notes that the figures are close to what it was expecting, although the exact assets and liabilities to retain in its valuation will continue to fluctuate slightly.
In any case the broker maintains its positive view on the stock and Newco, which is significantly cheaper than listed international railways by offering strong earnings growth.
Pending final figures, Oddo says that it is maintaining its "Buy" rating on the stock, along with its target price of 47 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.